The global Zinc Oxide Nanoparticles market is poised to witness a stellar CAGR of 7% during the forecast period. Exceptional UV protection capabilities and photo-stability is set to increase the demand for zinc oxide nanoparticles in sun care products. Increasing consumption of zinc oxide nanoparticles in cosmetic and personal care products is set to create lucrative opportunities for market players.
Further, surging demand of zinc oxide nanoparticles from paints & coatings, plastics, textiles, semiconductors, adhesives, pharmaceuticals, and many other applications is set to drive the market. However, the COVID-19 pandemic is set to hamper market growth due to disrupted supply chains and halted production across the globe. Moreover, other end-use industries are experiencing a disruption in their production cycles due to falling demand. However, the market is likely to rebound in the aftermath of the coronavirus outbreak as production cycles resume.
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Key Takeaways of Zinc Oxide Nanoparticles Market Study:
- Rising consumption of color cosmetics is burgeoning the application of zinc oxide nanoparticles in color cosmetic products which is projected to catalyze market growth.
- On the basis of production method, the indirect method (American process) is poised to remain the primary production method throughout the assessment period.
- Coated (surface treated) zinc oxide nanoparticles are set to remain primary choice among end use consumers and are projected to expand at CAGR of ~6% during the forecast period.
- Naturally, being a broad spectrum UV filter, zinc oxide is primarily used as a UV shielding agent in cosmetic & personal care products, paints and coatings and textiles etc.
- Cosmetic and personal care products are the primary applications of zinc oxide nanoparticles and are set to account for over three fourth of the global consumption by 2030.
“Trend of multifunctional products such as sun care products with effective moisturizing and healing properties coupled with increasing demand for male grooming products will lead to additional demand for zinc oxide nanoparticles during the forecast period”, says the Fact.MR analyst.
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Targeted Market Strategies by Market Players to Expand Global Footprint
Market players have been strategically focusing on high potential zinc oxide nanoparticle markets and in response they have invested millions of dollars for production capacity expansion. Under their targeted strategy, prominent players have acquired numerous other competitors to strengthen their market position. Companies have also expanded their global reach and deepened their roots in high potential regions such as East Asia, which is slated to be one of the front running regions in the zinc oxide nanoparticles market. For instance, in 2019, under EverZinc’s commercial strategy, it expanded its production capacity in Norway and the Netherlands. Similarly, in 2019, Anhui Linghu Paint Co., Ltd planned to open new production line of zinc oxide nanoparticles with production capacity of 5 kilo tons per annum. Further, innovative product offerings by market players coupled with strategic initiatives will fuel the global zinc oxide nanoparticles market growth during the forecast period.
More Valuable Insights on Zinc Oxide Nanoparticles Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global zinc oxide nanoparticles market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the zinc oxide nanoparticles market on the basis of production method (direct and indirect), grade (coated and uncoated), primary function (UV shielding agent, antibacterial & antifungal agent and plastic cross-linking agent) and application (cosmetics & personal care, paints & coatings, polymers & textiles and others) across six major regions.
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